Arabic News Weekly Edition for Economics, 4/26/1999
Weekly Edition, Economics - Week of April 26, 1999
- Libyan - Egyptian committee to meet on Monday Egypt-Libya, Economics, 4/30/1999
- UNRWA's donor countries increase financial contributions
The organization's commissioner general, Peter Hansen, told reporters in a press conference that UNRWA, which provides services to some 3.5 million Palestinian refugees, is still in a difficult financial condition despite the tough measures it has taken. Regional-Palestine, Economics, 4/30/1999 - Officials of Mideast, North Africa regions discuss inter-Arab tourism
Tourism officials in the Middle East and North Africa regions are discussing ways of activating inter-Arab tourism during their 18th meeting which opened this Friday at the Syrian capital. Regional-Syria, Economics, 4/30/1999 - Iraqi opens dam on the Tigris tributary
Iraq on Wednesday opened a huge dam on one of the tributaries of the Tigris river at a total cost of US $10 million. Work started in the dam, 180 km northwest of Baghdad in 1996. More than 2000 Iraq engineers, technicians and workers took part in the construction of the dam. Iraq-Russia, Economics, 4/30/1999 - Four offers to develop Saudi communications network
Four international companies that work in communications presented offers to develop the telephone network in Saudi Arabia over two years at a cost of $6 billion to provide more than two million lines. Saudi Arabia, Business, 4/30/1999 - Jordanian, French chambers maintain cooperation
The Chamber of Commerce and Industry in Paris on Thursday signed in Amman a cooperation agreement with the Jordanian Trade Chambers Federation. Jordan-France, Economics, 4/30/1999 - European Union stops imports of Egyptian peanuts
The commissariat of the European Union in Cairo yesterday formally notified the Egyptian government the stoppage of imports of Egyptian peanuts, due to harmful chemicals which cause cancer. Egypt-European Union, Economics, 4/30/1999 - Free trade agreement between Lebanon and Yemen
A Yemen trade delegation concluded a visit to Beirut yesterday, after economic discussions with Lebanese businessmen. Lebanon-Yemen, Economics, 4/30/1999 - Holland finances Egyptian projects on B.O.T system
Many Dutch corporations decided to finance many Egyptian projects on the B.O.T (build-operate-transfer) system, the most prominent of which are establishing a wind-powered electricity station with an annual output of 300 megawatts as well as establishing a commercial harbor in the El-Ein El-Sokhna area on the Red Sea. Egypt-Netherlands, Economics, 4/30/1999 - Water basins found around Amman
Photos taken by Russian satellites of Jordan showed that there are large water basins surrounding the Jordanian capital Amman. Jordan, Economics, 4/30/1999 - German banks and companies search for investment opportunities in Egypt
The Federal Union of German Industries (BDI) along with German Companies for Investment and Development (DEG) called on the Egyptian government to seeking to have a German partner to establish mutual projects with the aim of exporting to German markets. Egypt-Germany, Economics, 4/30/1999 - Reviving the agreement of Middle East's bank
ArabicNews.com learned that the United States is currently making intensive diplomatic communications in the Middle East area to revive the project of the bank for economic cooperation and development in the Middle East. Regional-USA, Economics, 4/30/1999 - International conference and exhibition for Egyptian exports in Alexandria
An international conference and exhibition for Egyptian exports will be held from June 18 - 24 in Alexandria for the first time. Egypt, Economics, 4/30/1999 - Morocco hosts colloquy on Arab cooperatives' regulations
Morocco will host next May 2-7 a colloquy on the standardization of Arab cooperatives' regulations. Regional-Morocco, Economics, 4/30/1999 - Moroccan, French and Italian textile professionals to set common front
Moroccan textile professionals are pondering with their French and Italian peers on a project to set a common front to counter the rising competition in the sector. Morocco-International, Economics, 4/30/1999 - Moroccan-Spanish meeting helped clear out misunderstanding about fisheries cooperation, Youssoufi says
The fifth meeting of the Moroccan-Spanish high joint commission provided an opportunity to the Moroccan delegation to clear out the misunderstandings about Morocco's decision not to renew the four-year fisheries accord binding it to the European Union when, said Moroccan Premier Abderrahmane Youssoufi. Morocco-Spain, Economics, 4/30/1999 - Upgrading Marian tree region in Cairo
The Supreme Council for Antiquities in Egypt has finished drafting a plan to upgrade the Marian tree region located in the El-Zayton area in Cairo, which is considered one of the most important tourist sites in Egypt. Egypt, Economics, 4/30/1999 - New Zealand, Saudi Arabia for boosting industrial cooperation Saudi Arabia-New Zealand, Economics, 4/30/1999
- Floating up Egyptian bonds in world markets
ArabicNews.com learned that the Egyptian government has decided to issue financial bonds in dollars varying between $250 and $300 million for the Egyptian government. Egypt, Economics, 4/29/1999 - Towards a free trade area between Egypt, Morocco, Tunisia, Egyptian Regional, Economics, 4/29/1999
- Egypt reelected to board of directors of Arab Organization for Investment and Agricultural Development
Egyptian Deputy Prime Minister and Minister of Agriculture and Land Reclamation Yousef Wali nominated Saad Nassar, manager of the agricultural research center, to represent Egypt on the organization's board of directors. Egypt-Regional, Economics, 4/29/1999 - World bank expresses guarded optimism about Africa's growth
Currently 61% of exports are made up of agricultural products, minerals and metals, and only 19 percent manufactured," the Bank pointed out. While noting that Africa was able to attract an increase of long-term capital flows from four billion dollars in 1996 to eight billion dollars in 1998, the Bank also noted that the flow was still a small fraction of the 256 billion dollars total flows to developing countries. Regional, Economics, 4/29/1999 - Panasonic plans to establish factory in Saudi Arabia
The Japanese company Panasonic plans to establish the first factory for electronic industries in Saudi Arabia in cooperation with Saudi company El-Eissaei. Saudi Arabia-Japan, Business, 4/29/1999 - $6 billion in income from Egyptian tourism expected in 2002
The general association for the German - Arab trade chamber unanimously ratified the new adjustments in the chamber's internal list, estimating its 1998 activities and budget and changing its name to the Arab - Germany Industrial and Trade Chamber in Egypt, as well as expanding the geographic range for the chamber's work to include the Middle East area. Egypt-Germany, Economics, 4/29/1999 - Expo could bring 9 percent increase in French share of Egyptian market
The French commercial counselor in Cairo, Yves De Rico, expected that the France Expo 99 exhibition to be held on Saturday in Cairo may lead to an increase of French exports to the Egyptian market of 9%. Egypt-France, Economics, 4/29/1999 - Arab investors compete for three Egyptian tourism companies
The Egyptian government is planning to sell three large tourism companies affiliated to the Egyptian public works sector Egypt, Business, 4/29/1999 - International offers for establishing a tunnel under Suez Canal
The Egyptian governorate of Port Said is currently conducting feasibility studies for establishing a tunnel under the Suez Canal south of Port Said at a cost of 400 million pounds. Egypt, Business, 4/29/1999 - Morocco calls for reorienting strategies to human development
The Moroccan minister also urged the international community to ponder means of alleviating the indebtedness of medium-income countries. Debt-alleviation should take into account the level of the Gross Domestic Product (GDP) and the social development needs of these countries, he explained. Morocco-USA, Economics, 4/29/1999 - British - French compete for purchasing the Egyptian fuel stations Egypt-International, Business, 4/29/1999
- An exhibition for the Egyptian exports in the end of May
The Egyptian Businessmen's Association decided to organize the annual exhibition for Egyptian exports starting on May 22, on the margins of the annual meetings of the council of the African Development Bank's governors at the international conference center in Cairo. Egypt-International, Economics, 4/29/1999 - US announces sanctions changes for Libya, Sudan, Iran
The US yesterday announced exemptions on certain products under the US sanctions, which will affect current sanctions imposed against Libya, Sudan, and Iran. Regional-USA, Economics, 4/29/1999 - Livestock disease controlled in Morocco
The isolated cases of livestock Foot and Mouth disease (MFD), which were reported lately in Morocco, has been controlled thanks to the nationwide vaccination campaign launched last February. Morocco, Economics, 4/29/1999 - Tunisian parliament ratifies free trade accord with Morocco
The Tunisian parliament ratified on Tuesday the accord setting up a free trade area between Morocco and Tunisia. Tunisia-Morocco, Economics, 4/28/1999 - Bahraini bank to open branch in Saudi Arabia Saudi Arabia-Bahrain, Business, 4/28/1999
- Expectations of increasing the Gulf petroleum production
A study issued by the council of Arab economic unity in Cairo today expected an increasing share of the Arab Gulf states in the world's petroleum production from the current 18.5 million barrels per day (bpd) to 43.8 million bpd in 2010, an increase from a 26% to a 47.6% share. Gulf, Economics, 4/28/1999 - Syrian- Turkish transport committee continues deliberations
The railway committee, for its part, agreed to resume operations of the Istanbul - Aleppo - Damascus passenger train and to set up a new station linking Turkey's Nseibin area to Syria's Qamishli city Syria-Turkey, Economics, 4/28/1999 - Russian FM confers with Iraqi oil minister
Russian Foreign Minister Igor Ivanov held a meeting on Tuesday in Moscow with Iraqi Oil Minister Amer Muhammad Rashid on the possibility of lifting the UN sanctions imposed on Iraq and Russian plans to revive the Iraqi oil industry. Iraq-Russia, Economics, 4/28/1999 - Kuwaiti parliament debates foreign participation in petroleum sector
A number of members of the Kuwaiti Parliament confirmed yesterday their support for the government's to expand the participation of foreign companies in investment in Kuwait's petroleum sector. Kuwait, Economics, 4/28/1999 - Saudi crown prince confers with New Zealand's trade minister
Saudi Crown Prince Abdullah Bin Abdul Aziz met on Tuesday in Jeddah with New Zealand Foreign Trade Minister Alexander Lockwood Smith, currently visiting Saudi Arabia. Means of strengthening trade and economic relations between Saudi Arabia and New Zealand were reviewed. Saudi Arabia-New Zealand, Economics, 4/28/1999 - U.S-Maghreb partnership initiative to be discussed in Washington Maghreb-USA, Economics, 4/28/1999
- Dutch businessmen in Morocco to explore cooperation prospects
A delegation of Dutch businessmen is currently visiting Morocco to explore cooperation prospects between Morocco and the Netherlands. The delegation held in Casablanca on Tuesday a meeting with executives of the Moroccan employers' association (CGEM) to discuss means of giving a new momentum to trade exchanges. Morocco-Netherlands, Economics, 4/28/1999 - 1.5 million telephone lines planned for Khartoum Sudan, Economics, 4/28/1999
- Some 3,500 jobless graduates peacefully march in Rabat
Some 3,500 Moroccan jobless graduates marched on Monday through the streets of downtown Rabat to ask for jobs and protest the government's inaction. Morocco, Economics, 4/28/1999 - Exhibition for Egyptian products in Tokyo next year Egypt-Japan, Economics, 4/28/1999
- Morocco earmarks over $ 1 bln for water projects
Morocco has set up a program to supply drinking water to 85 % of the rural inhabitants by year 2000, a Moroccan cabinet member told on Tuesday the chamber of advisors. Morocco, Economics, 4/28/1999 - Egypt takes part in 14 international fairs this year
The number of the foreign fairs in which the Egyptian government intends to take part during the coming eight months has reached 14 international fairs in African, Asian, European and Arab capitals. Egypt-International, Economics, 4/28/1999 - Arab Moroccan bank seeks to double its capital Morocco-Regional, Business, 4/28/1999
- EU seeks economic partnership with GCC
A high-ranking official at the German Foreign Ministry discussed arrangements in Doha on Tuesday for the visit to be held by Qatari Emir Sheikh Hamad Bin Khaleifa al-Thani to Germany at the end of May, in a visit which is his first since he assumed power in 1995. Gulf-Qatar-European Union, Economics, 4/28/1999 - Reducing customs between Egypt and Morocco by 25% Egypt-Morocco, Economics, 4/27/1999
- Agreement for trade cooperation between Egypt and India
An Indian economic delegation starts today a visit to Egypt to draft a general framework for trade cooperation between the two countries. Egypt-India, Economics, 4/27/1999 - Search for petroleum near borders with Israel confined to Egyptian companies
the Egyptian minister revealed an increase in the reserve of petroleum and gas from 1.124 billion tonnes on January 1, 1998 to 1.126 billion tonnes this year. Egypt, Economics, 4/27/1999 - Book review: Tunisia, the country of promising economy
The Tunisian foreign investment agency has released a new book under the title, "Tunisia: the country of a promising economy." The book includes information about the general characteristics of the Tunisian economy, market, human resources, the infrastructure and a briefing on encouraging investment means in the country and direct foreign investment. Tunisia, Economics, 4/27/1999 - 260 French companies in Cairo
A delegation of French businessmen representing 260 French companies is to arrive in Cairo on Friday to take part in the French exhibition "France Expo 99," which will be held on May 2 - 6. Egypt-France, Economics, 4/27/1999 - Egypt: Foreign labor constitutes 3 percent of local market
The report showed that it is the complete right of Arab and foreign investors to possess up to 100% of Egyptian companies or projects and to possess lands and properties and to use the foreign labor without limits, in addition to the right of foreign workers to transfer money and projects abroad without any conditions or restrictions. Egypt, Economics, 4/27/1999 - Sony establishes a business channel for Dubai TV
The Japanese company Sony won a contract to establish the first stage of an business television affiliated to Dubai TV, worth $650,000. United Arab Emirates, Business, 4/27/1999 - UAE to finance airport for humanitarian aid in Albania
The United Arab Emirates daily al-Itihad said on Monday that the UAE will finance the erection of an airport in Kokis in northern Albania, dedicated to facilitating delivery of humanitarian aid to Kosovar refugees. United Arab Emirates-Albania, Economics, 4/27/1999 - Italian $180 million tourism project studied in Sharm El-Sheik
A group of Italian businessmen are studying implementing a tourism project in Sharm El-Sheik that comprises establishing a tourism and entertainment city at a cost reaching nearly $180 million with full Italian financing. Egypt-Italy, Business, 4/27/1999 - Morocco's month in Ecuador, a success, says Moroccan embassy Morocco-Ecuador, Economics, 4/27/1999
- Arab businessmen to meet in Morocco next month
The third forum of Arab business people will meet next May 20-21 in Marrakesh to discuss "globalization and effects of the Euro on Arab economies." Regional-Morocco, Economics, 4/27/1999 - Conoco to apply for Saudi office Saudi Arabia-USA, Business, 4/27/1999
- French business team in Damascus Syria-France, Economics, 4/27/1999
- President al-Assad confers with Conoco oil company chief Syria, Business, 4/27/1999
- Kuwait interested in Morocco's privatization program
He also affirmed that the minutes he signed with Moroccan peer, Alami Tazi, provide for the setting up of a common strategy to level up trade exchanges to over 50 Million Kuwaiti dinars in the few coming years. Kuwait-Morocco, Economics, 4/26/1999 - Chinese delegation to visit Egypt in May Egypt-China, Economics, 4/26/1999
- Lebanese economic delegation visiting Cairo
The Egyptian ministers of industry and of economy, Soliman Reda and Youssef Butros Ghali met yesterday with a Lebanese industrial delegation chaired by Jacques Serraf, the head of industrial assembly, who arrived in Cairo at the invitation of the head of Egyptian industrial assembly, Abd El-Menem Saudi. Egypt-Lebanon, Economics, 4/26/1999 - 25 offers to buy Egyptian internal trade companies
The Egyptian Ministry of Public Enterprises received 25 offers to buy internal trade companies, including offers from Egyptian businessmen Ahmed Arafa, Ahmed Baghdad, and Mahmoud El-Arabia. Egypt, Business, 4/26/1999 - Damascus hosts international conference for information technology
The Syrian scientific association for information is regulating the second Shams international conference today and for five days, under the title "Data techniques and future challenges in the developing countries, needs and priorities" in Damascus under the auspices of Syrian President Hafez al-Assad. Regional, Economics, 4/26/1999 - Morocco and Senegal have great joint business opportunities
Morocco and Senegal have great joint business opportunities in the fields of handicraft, agribusiness and industry, said Moroccan Ambassador in Dakar, Driss Ennahdi. Morocco-Senegal, Economics, 4/26/1999 - Chilean commercial bureau dedicated in Casablanca Morocco-Chile, Economics, 4/26/1999
- Morocco's international airport of Nador will be operational next july Morocco, Economics, 4/26/1999
- Selling 39 percent shares of Rihana hotel at Red Sea Egypt, Business, 4/26/1999